IL HB3627

Amends the State Revenue Sharing Act by adding Section 11.3 concerning school district funding for fiscal year 2020.

State Board of Education must identify school districts that received Personal Property Tax Replacement Fund receipts totaling 13% or more of their total revenues in fiscal year 2018 and report these districts to the Department of Revenue by July 1, 2019.

Qualifying school districts identified under the bill shall receive an additional payment equal to 16% of the total amount they received from the Personal Property Tax Replacement Fund during fiscal year 2018.

Takes effect immediately upon becoming law.